Daily Technical Analysis – June 27, 2016

Our preference: short positions below 1.1110 with targets @ 1.0900 & 1.0820 in extension.

Alternative scenario: above 1.1110 look for further upside with 1.1185 & 1.1300 as targets.

Comment: as long as 1.1110 is resistance, look for choppy price action with a bearish bias. Monday’s opening gap is maintaining a downward pressure.

Our preference: short positions below 1.3470 with targets @ 1.3000 & 1.2700 in extension.

Alternative scenario: above 1.3470 look for further upside with 1.3680 & 1.3790 as targets.

Comment: the RSI is bearish and calls for further downside.

Our preference: long positions above 0.9700 with targets @ 0.9800 & 0.9840 in extension.

Alternative scenario: below 0.9700 look for further downside with 0.9660 & 0.9585 as targets.

Comment: the RSI is bullish and calls for further advance.

Our preference: short positions below 103.30 with targets @ 100.00 & 98.95 in extension.

Alternative scenario: above 103.30 look for further upside with 105.00 & 106.15 as targets.

Comment: as long as 103.30 is resistance, look for choppy price action with a bearish bias.